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• <br /> mod/floations to the form of such Lettot(e) of Credit are <br /> me•oessery to stxoi marketing of the &We, memo' and the City . ;x <br /> agree to negotiate in good faith to accomplish ' • <br /> sodifioetione. <br /> a. - . Tbs initial Letter(a) of <br /> Credit .hall have an expiration date(s) not sooner than July 22, <br /> leas and Shall be issued by • commercial bank(s) in the state of <br /> Colorado acceptabie to the City. The Initial Letter(*) of Credit <br /> 041 per04 the COg, to oaks drsors thsreoA upon premeatetiom t , <br /> . iesakijiy oR . - 4.04014'. et and*. !If <br /> avcsginal of tne Latt.mrir) o! cam: amt rte? 111 <br /> oertificats jointly s sorttard by the City's Mayor sad City <br /> Attorney oertifyi g that (x) the D'hibit "A' property has been <br /> annexed and zoned PCID, the golf =urea manager has been hired, <br /> the golf course n 000tryot ham been awarded, the golf <br /> Course revenue bonds have been road, and (y) Anaea a have not <br /> caused to be provided to the City a written extension of the <br /> Initial Letter(*) of Credit or one or more replacement letters of <br /> credit in form and substance satisfactory to the City and issued <br /> by a bank satisfactory to the City subsequent to the funding of <br /> the bottids in the aggregate amount of Pour lurrdrred Twenty-Tivs <br /> Thousand Dollars (4425,000.00) and lies than teen (10) days <br /> remains before the expiration of the Initial Letter(s) of Credit. <br /> b. If the <br /> City shall draw upon one or more of the Initial Letter(s) of <br /> Credit in the manner provided for in paregrspb 15(a) above, any <br /> - le � <br />